15/09/2016 - 15:40

TikForce sign agreement with WorkPac

15/09/2016 - 15:40

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Perth-based workplace management technology business TikForce has teamed up with one of Australia’s largest staffing solutions providers to work on joint bids, tenders and projects.

Kevin Baum says the new agreement will deliver another revenue stream for TikForce.

Perth-based workplace management technology business TikForce has teamed up with one of Australia’s largest staffing solutions providers to work on joint bids, tenders and projects.

TikForce announced today it had signed a memorandum of understanding with WorkPac Group to integrate its technology into the WorkPac candidate management process.

WorkPac has more than 750,000 candidates on its database and provides human capital to the resources, construction, engineering, healthcare, and oil and gas sectors.

It processed more than 40,000 job placements during the 2014-2015 financial year.

Following the agreement, candidates applying for jobs through WorkPac will need to be verified using the TikForce technology before being placed in a role.

Under the terms of the MOU, TikForce will receive a fee for each verified candidate, providing it with a new source of revenue.

TikForce chief executive Kevin Baum said the agreement had the potential to transform the company in respect to its earnings.

“Working with Australia’s leading private organisation in the labour hire field presents a unique opportunity to establish TikForce as the go-to regtech (regulatory technology) solution for companies in this key industry sector,” he said.

“It is anticipated that the partnership will lead to near-term and significant income from verifying and validating candidates.”

The integration of TikForce’s technology platform has the potential to reduce the time and costs associated with candidate compliance and processing, and WorkPac managing director Praanesh Prasad said it would provide a competitive edge in the current marketplace.

“Partnering with TikForce will enable us to provide a superior offering to a range of our existing clients,” he said. 

While the initial focus is on the provision of workforce validation services, there are plans to explore the use of other TikForce offerings to enhance the WorkPac process.

Both companies have also committed to collaborating on a number of major tenders and projects in the near future.

TikForce shares 0.5 per cent higher to 6.5 cents each at the time of writing. 

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